Celestica Sees Unusually High Options Volume (NYSE:CLS)

Celestica Inc (NYSE:CLS) (TSE:CLS) was the target of unusually large options trading on Wednesday. Stock traders acquired 1,000 put options on the company. This represents an increase of approximately 1,438% compared to the typical daily volume of 65 put options.

Shares of NYSE:CLS opened at $7.70 on Thursday. Celestica has a 52-week low of $5.95 and a 52-week high of $9.96. The stock has a market cap of $995.28 million, a price-to-earnings ratio of 11.00 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 1.31 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $7.37 and a 200-day moving average price of $6.91.

Celestica (NYSE:CLS) (TSE:CLS) last announced its quarterly earnings data on Thursday, October 24th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Celestica had a return on equity of 10.06% and a net margin of 2.24%. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business posted $0.26 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year.

Several large investors have recently made changes to their positions in CLS. Tower Research Capital LLC TRC raised its stake in shares of Celestica by 25,368.6% in the third quarter. Tower Research Capital LLC TRC now owns 8,914 shares of the technology company’s stock worth $64,000 after purchasing an additional 8,879 shares during the last quarter. Scotia Capital Inc. raised its position in Celestica by 15.8% during the second quarter. Scotia Capital Inc. now owns 13,115 shares of the technology company’s stock valued at $89,000 after acquiring an additional 1,792 shares in the last quarter. Corient Capital Partners LLC purchased a new position in Celestica during the third quarter valued at approximately $120,000. Millennium Management LLC purchased a new position in Celestica during the third quarter valued at approximately $148,000. Finally, Atria Investments LLC raised its position in Celestica by 24.3% during the second quarter. Atria Investments LLC now owns 25,927 shares of the technology company’s stock valued at $169,000 after acquiring an additional 5,075 shares in the last quarter. Hedge funds and other institutional investors own 65.39% of the company’s stock.

CLS has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Celestica from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Securities dropped their price target on Celestica from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Finally, CIBC reissued a “hold” rating and set a $7.00 price target on shares of Celestica in a research report on Sunday, October 27th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.38.

About Celestica

Celestica Inc provides design, manufacturing, hardware platform, and supply chain solutions in Canada and internationally. It operates through two segments, Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of services, including design and development, engineering, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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